Effective April 1st, the University will implement revised tax withholding tables that may reduce the amount of income tax withheld from your wages.
The new tables, prescribed by the Department of the Treasury, reflect the Making Work Pay credit and other changes resulting from the American Recovery and Reinvestment Act of 2009.
You do not have to submit a Form W-4, Employee’s Withholding Allowance Certificate, to get the automatic withholding change. If you do not want to have your withholding reduced (because, for example, you have more than one job or you are married and your combined income places you in a higher tax bracket), you may want to file a new W-4. You may claim fewer withholding allowances on line 5 or request additional amounts to be withheld on line 6. For additional help, get IRS Publication 919, How Do I Adjust My Tax Withholding? Also, you can visit the IRS website at www.irs.gov and use the “Withholding Calculator”. Contact UNO Payroll 4-2325, if you have any questions.
Compensatory time earned (CME) at UNO may be carried over to the next fiscal year.
Previously, compensatory time earned was required to be paid off prior to the end of a current fiscal year.
The following practices are not changed:
A compensatory time balance must be used or paid off prior to the effective date of a promotional salary increase, transfer to another department, a salary decrease, and before the effective date of a leave of absence without pay except when the employee is on family medical leave.
Employee's separating from UNO are entitled to payment of all unused compensatory time at a rate of pay not less than the average regular rate received during the last three years of employment or the final regular rate received by the employee, whichever is higher.
Effective July 24, 2009, the Federal Minimum Wage will increase to $7.25 per hour. Employees below this wage amount will automatically have their hourly rate increased to $7.25 on July 24, 2009.
For more information refer to United States Department of Labor